Global Industrial Hose Assemblies Market is valued approximately USD $million in 2021 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2022-2028.

The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.

Industrial Hose Assemblies includes fittings that are specific to the application. An industrial hose assembly consist of the hose, fittings, and a way to attach the fittings to the hose. Industrial hose assemblies are available in different configurations, sizes and finishes. Industrial hose assemblies are utilized to transfer various fluids such as gas, water, chemicals from their source to machines. The growing number of construction & Mining activities and increasing end use applications of industrial hose assembly across different industries as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand.

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For instance, as per Oxford Economics – Global Construction Output Report -during 2020, the worldwide construction output was valued at USD 10.7 trillion, and the construction output is estimated to grow to USD 15.2 trillion by end of 2030. Moreover, Asia Pacific would account for USD 2.5 trillion of growth in construction output between 2020 and 2030. Furthermore, leading market players are working towards different strategic initiatives such as new product launches and portfolio expansions to capitalize the growing demand for Industrial hose assemblies. For instance, in June 2020, Eaton unveiled its Synflex Optimum family of thermoplastic hydraulic hoses and fittings intended for application in aerial lifts, agricultural and construction machinery, forestry equipment, car hauler trailers, lift trucks, marine environments, chemical plants and car washing systems. In addition, in July 2021, USA based PIRTEK USA launched a new product line of industrial hose for application in mining, petro-chemical and pharmaceutical industries. This new range of industrial hose can transfer a wide range of materials including abrasive materials and chemicals. The new industrial hose would enable the company to expand its product offerings and to service additional types of machinery and equipment through its franchise network. Also, growing advancements in chemical & pharmaceuticals industries and rapid industrialization in emerging economies are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, volatile cost of raw materials impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Industrial Hose Assemblies Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing Oil & Gas exploration operations and rising food & beverages industry in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of food and beverages industry coupled with rising construction sector in the region, would create lucrative growth prospects for the global Industrial Hose Assemblies Market across the Asia Pacific region.

Major market players included in this report are:

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

Low Pressure Industrial Hose Assemblies

Medium Pressure Industrial Hose Assemblies

High Pressure Industrial Hose Assemblies

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